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Next Inc CEO to work for bottom line profits

15 Dec '05

2 min read

Next Inc, rising leader in the sportswear and promotional products industry said it knows of no fundamental reason for the recent decline in the share price of its common stock. The company recently reported the hiring of Robert Budd as its new CEO and previously reported record third quarter sales that rose 39.4 Percent.

The company also reported a profit in the same quarter. The company will also report a double-digit sales increase for fourth quarter of 2005, and a 24 Percent increase in net sales for fiscal year 2005 compared to fiscal year 2004.

Robert Budd, the Company's CEO stated, "Shareholders too are concerned about the recent decline of share price. With management and the Board of Directors collectively owning significant shares, interests are directly aligned with shareholders. I am committed to building bottom line profits, which in turn should build shareholder value."

Budd further commented, Having now had time to entrench myself into the company's operations, I'm very optimistic going forward. Company is re-organizing sales and operations management, and I anticipate a one time financial inventory write down in the fourth quarter due to re-focusing management on profitability and inventory turnover.

In addition, they've identified several areas where we can substantially cut costs and increase productivity.

The first quarter of 2006 should also show a sales increase over first quarter 2005. The Company has been able to show excellent revenue growth over the past several years, and they are confident that beginning in 2006 we will be able to generate larger, more consistent earnings from that revenue.

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